Cendant Completes ebookers Acquisition

Cendant Corporation has completed its previously announced acquisition of
European online travel provider, ebookers plc, for approximately 190
million Pounds sterling (approximately $350 million), net of cash
acquired.The ebookers acquisition is another step in Cendant’s strategic
realignment plan to focus on the Company’s core travel and real estate
verticals by using proceeds from the sale of non-core assets to reinvest
in a core business.

“We are excited about adding ebookers to our portfolio of online travel
companies and the expanded presence it will provide us in Europe,” said
Samuel L. Katz, chairman and CEO, Cendant Travel Distribution Services
Division. “Together with Orbitz and the pending Gullivers acquisition,
which is expected to close in April 2005, our purchase of ebookers
positions Cendant as a worldwide leader in the fast-growing online travel
intermediary space.”
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